A former multi-billion euro fund managed by Crispin Odey has fallen to a fraction of its former size as investors redeem money on poor performance.
The Odey European fund now holds €184m compared to €2.5bn at the start of 2015, the Financial Times reports.
Total AUM at Odey Asset Management has fallend to $6bn from $11.7bn over the same period.
The European fund was launched in 1992, but it lost almost 50 per cent due to performance in 2016. This year it has lost investors a further 15 per cent.
The European fund has suffered the most significant losses, but other funds run by Odey have also suffered significant outflows and performance hits.
The $173m Odey Mac fund used to hold €1.2bn at the start of 2015, while the Odey Swan fund fell from €477m to €259m.
Odey Asset Management did not comment on the losses.